Jamestown\u00a0 (CSi)\u00a0 The Jamestown Parks and Recreation Commission\u00a0 Monday, tabled consideration of seeking an increase in the bond for the Two Rivers Activity Center, a move that could save the commission on the overall cost of the bond.<\/p>\n
Jamestown Parks and Recreation Department director, Doug Hogan\u00a0 said the idea for including more funds in the bond was suggested by John Shockley.<\/p>\n
The Parks and Recreation Commission was going to have a $28.6 million bond sale to finance the first phase of the Two Rivers Activity Center. Hogan said the commission was also considering using a letter of credit, a financial mechanism used to set funds aside for a specific purpose, to be used as an emergency fund in case there were any problems with the project.<\/p>\n
Hogan said the bond company, Dougherty & Co. recommended increasing the bond amount to $30.8 million, then taking $2 million to establish a debt-service fund.<\/p>\n
Hogan did not have any final numbers on how much money the Parks and Recreation Commission would save by putting more money in the bond.<\/p>\n
Hogan said the\u00a0plan \u00a0for increasing the bond amount came from discussions with Jamestown City Administrator Jeff Fuchs and Mayor Katie Andersen at a meeting that included Hogan, City Attorney Leo Ryan and Shockley on Friday. The two sides are in the process of working out a joint powers agreement on how the bond sale will be handled and how funds from a 1 percent city sales tax, which went into effect of April 1, will be used to pay back the bond for TRAC.<\/p>\n","protected":false},"excerpt":{"rendered":"
Jamestown\u00a0 (CSi)\u00a0 The Jamestown Parks and Recreation Commission\u00a0 Monday, tabled consideration of seeking an increase in the bond for the Two Rivers Activity Center, a move that could save the commission on the overall cost of the bond. Jamestown Parks and Recreation Department director, Doug Hogan\u00a0 said the idea for […]<\/p>\n","protected":false},"author":3,"featured_media":65293,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25,14],"tags":[],"class_list":["post-98674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-jamestown"],"_links":{"self":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/98674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=98674"}],"version-history":[{"count":1,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/98674\/revisions"}],"predecessor-version":[{"id":98675,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/98674\/revisions\/98675"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/media\/65293"}],"wp:attachment":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=98674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=98674"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=98674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}